Martha Stewart Living Omnimedia on Monday said its board has named turnaround and restructuring specialist Daniel Dienst the lifestyle media company's new CEO.

Dienst, whose background is mostly in the metals industry, recently was appointed to the company's board.

Said founder and non-executive chairman Martha Stewart: "We are excited to welcome Dan as the new CEO of MSLO. He is a highly respected and experienced public company CEO with strong operating and financial discipline and a clear track record of creating significant value for shareholders. Dan will take on the important responsibility of leading the company and ensuring that we are able to deliver on our strategy for renewed growth."

She added: "Dan has specific expertise helping companies run efficiently and productively, and I look forward to working with him to strengthen and further expand our brand and create new opportunities to significantly grow the company and deliver our products to consumers around the world."

Dienst said: "I have long been a fan of Martha Stewart, the person and the brand, and believe there is enormous untapped opportunity for this organization and a terrific base of talented people to help us realize that opportunity. The company has embarked on a turnaround plan that is expected to produce good early results, but there is a lot more to do to achieve our long-term objectives."

The board said in a statement: "In his short time on the board, Dan has brought a fresh perspective to the business, which in combination with his operating skills, will help to strengthen our position and drive long-term growth."

Dienst previously served as CEO of Sims Metal Management, helping the company through the aftermath of the global financial crisis, following other jobs in the metals business.